Hometree raises £7m in new round led by Anthemis

Existing investors DN Capital, Literacy Capital and new backer Silicon Valley Bank also took part in the round alongside private investors including Gumtree founder Michael Pennington and Goldman Sachs banker Anthony Gutman.

According to a report in Sky News, the company has so far raised £25m in funding.

The company's new funding will be used to capitalise on Hometree's growth during the coronavirus pandemic, with sales growth this year expected to reach 300%, and to take advantage of the pricing reforms introduced in London.

Previous funding
In 2017, Hometree raised £1.9m in seed funding from Oxford Capital Partners, DN Capital, Local Globe, FJ Labs and Fabrice Grinda. In January 2018, the company raised £2.9m in another seed round led by Literacy Capital alongside existing investors.

In September 2018, Hometree raised £6.5m in a series-A round led by AV8 Ventures, alongside Literacy Capital, DN Capital, Local Globe, and private investors.

In January 2019, the company raised an undisclosed amount from London-based VC Perscitus.

Company
Founded in 2016 and based in London, Hometree provides boiler installations and boiler, heating and home insurance plans to tenants, landlords, and homeowners. The company employs fewer than 50 staff.

People
Hometree – Simon Phelan (CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• DN Capital